Investing.com – Asian stocks were down on Tuesday, with the Nikkei falling to a 15-month low as the strong yen continued to weigh on exporters amid fears that the rate of global economic growth is slowing down.
Hong Kong's Hang Seng Index was down 0.29%; South Korea's Kospi Composite shed 0.41%; and Japan’s Nikkei 225 Index tumbled 1.33%.
The share price of many big name Japanese exporters remained under pressure, with shares in electronics giant Sony tumbling 3.72% and digital camera makers Canon shedding 0.85%.
Earlier in the day, the CEO of the Tokyo Stock Exchange Atsushi Saito said that Japan should demonstrate that it is ready to intervene in currency markets.
In Sydney, political uncertainty in the wake of Saturday's inconclusive election result hit markets, sending commodity shares lower. The benchmark S&P/ASX 200 Index fell 1.08% as miners erased Monday's gains, with shares in Rio Tinto falling 1.57% while shares in BHP Billiton slid 0.46%.
The outlook for European equity markets, meanwhile, was pessimistic: EURO STOXX 50 futures indicated a drop of 0.91%, France’s CAC 40 futures pointed to a fall 0.91% and Germany's DAX futures indicated a decline of 0.70%.
Earlier in the day, official data showed that Germany's gross domestic product expanded in line with expectations in the second quarter.
Hong Kong's Hang Seng Index was down 0.29%; South Korea's Kospi Composite shed 0.41%; and Japan’s Nikkei 225 Index tumbled 1.33%.
The share price of many big name Japanese exporters remained under pressure, with shares in electronics giant Sony tumbling 3.72% and digital camera makers Canon shedding 0.85%.
Earlier in the day, the CEO of the Tokyo Stock Exchange Atsushi Saito said that Japan should demonstrate that it is ready to intervene in currency markets.
In Sydney, political uncertainty in the wake of Saturday's inconclusive election result hit markets, sending commodity shares lower. The benchmark S&P/ASX 200 Index fell 1.08% as miners erased Monday's gains, with shares in Rio Tinto falling 1.57% while shares in BHP Billiton slid 0.46%.
The outlook for European equity markets, meanwhile, was pessimistic: EURO STOXX 50 futures indicated a drop of 0.91%, France’s CAC 40 futures pointed to a fall 0.91% and Germany's DAX futures indicated a decline of 0.70%.
Earlier in the day, official data showed that Germany's gross domestic product expanded in line with expectations in the second quarter.